Infinera Co. (NASDAQ:INFN) Short Interest Down 5.1% in December

Infinera Co. (NASDAQ:INFN) was the target of a large drop in short interest in the month of December. As of December 31st, there was short interest totalling 26,670,000 shares, a drop of 5.1% from the December 15th total of 28,100,000 shares. Based on an average daily volume of 941,300 shares, the short-interest ratio is currently 28.3 days.

Infinera Price Performance

Shares of Infinera stock opened at $6.59 on Monday. Infinera has a 12 month low of $4.41 and a 12 month high of $6.92. The company has a debt-to-equity ratio of 4.98, a current ratio of 1.58 and a quick ratio of 0.97. The business has a 50 day simple moving average of $6.61 and a two-hundred day simple moving average of $6.44. The stock has a market capitalization of $1.56 billion, a P/E ratio of -13.73 and a beta of 1.64.

Infinera (NASDAQ:INFN) last announced its quarterly earnings results on Tuesday, November 5th. The communications equipment provider reported ($0.06) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.07). The firm had revenue of $354.40 million for the quarter, compared to analyst estimates of $401.96 million. Infinera had a negative net margin of 7.62% and a negative return on equity of 45.12%. As a group, analysts predict that Infinera will post -0.33 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on INFN. B. Riley lowered Infinera from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 6th. StockNews.com upgraded Infinera from a “sell” rating to a “hold” rating in a research note on Thursday, November 7th. Finally, Rosenblatt Securities reaffirmed a “neutral” rating and issued a $6.65 price target on shares of Infinera in a report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat, Infinera currently has a consensus rating of “Hold” and an average price target of $7.09.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. Sand Grove Capital Management LLP purchased a new stake in shares of Infinera in the 3rd quarter valued at $12,517,000. Janus Henderson Group PLC grew its position in Infinera by 332.0% in the 3rd quarter. Janus Henderson Group PLC now owns 350,520 shares of the communications equipment provider’s stock valued at $2,364,000 after acquiring an additional 269,372 shares in the last quarter. Water Island Capital LLC purchased a new stake in Infinera during the second quarter worth about $9,196,000. SG Americas Securities LLC purchased a new stake in Infinera during the third quarter worth about $556,000. Finally, Barrow Hanley Mewhinney & Strauss LLC lifted its position in shares of Infinera by 22.4% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 11,057,935 shares of the communications equipment provider’s stock worth $67,343,000 after purchasing an additional 2,025,658 shares in the last quarter. 97.54% of the stock is currently owned by institutional investors and hedge funds.

Infinera Company Profile

Infinera Corporation provides optical transport networking equipment, software, and services worldwide. The company's product portfolio includes Infinera Groove series for modular and sled-based platforms to support a various transport network applications; Infinera 7300 series, an SDN-ready coherent optical transport system; Infinera FlexILS open optical line system that connects various Infinera and third-party terminal equipment platforms over long-distance fiber optic cable providing switching, multiplexing, amplification, and management channels; and Infinera 7090 and 7100 series for transport platforms.